The chart you’ve shared is a *GBP/USD 45-minute timeframe* from TradingView, and it uses a combination of *technical analysis tools and chart patterns*. Here’s a breakdown of what's on the chart:
### *Chart Pattern Identified:*
- *Head and Shoulders Pattern* (Potential):
- The orange circles indicate what looks like an *inverted head and shoulders* formation (a bullish reversal pattern).
- This suggests a possible price increase if the neckline is broken and price sustains above it.
### *Technical Tools Used:*
1. *Trend Lines:*
- Two trend lines are drawn: one upward (previous trend) and one downward (current bearish trend).
- These help identify the direction and possible breakout points.
2. *Support and Resistance Areas:*
- Marked horizontal zones (pink shaded area) show *previous support and resistance levels*.
- “Support Area Break-out” is labeled, indicating a previous support that turned into resistance.
3. *Consolidation Zone:*
- A rectangular box highlights a period of *sideways price action*, indicating market indecision or accumulation before the breakout.
4. *Arrows (Red and Green):*
- *Red arrows* point to swing highs or resistance points.
- *Green arrows* point to swing lows or areas of support and possible price reaction.
5. *Price Projections:*
- There are two potential projections: one bullish (upward dotted arrow) and one bearish (downward arrow).
- This illustrates possible scenarios based on whether price breaks above the trend line or rejects it.
6. *Chart Labeling:*
- Text boxes like “Consolidation area,” “Support Area Break-out,” and trend labels provide clarity.
---
Would you like a trade idea or strategy suggestion based on this analysis?
GBPUSD
### *Chart Pattern Identified:*
- *Head and Shoulders Pattern* (Potential):
- The orange circles indicate what looks like an *inverted head and shoulders* formation (a bullish reversal pattern).
- This suggests a possible price increase if the neckline is broken and price sustains above it.
### *Technical Tools Used:*
1. *Trend Lines:*
- Two trend lines are drawn: one upward (previous trend) and one downward (current bearish trend).
- These help identify the direction and possible breakout points.
2. *Support and Resistance Areas:*
- Marked horizontal zones (pink shaded area) show *previous support and resistance levels*.
- “Support Area Break-out” is labeled, indicating a previous support that turned into resistance.
3. *Consolidation Zone:*
- A rectangular box highlights a period of *sideways price action*, indicating market indecision or accumulation before the breakout.
4. *Arrows (Red and Green):*
- *Red arrows* point to swing highs or resistance points.
- *Green arrows* point to swing lows or areas of support and possible price reaction.
5. *Price Projections:*
- There are two potential projections: one bullish (upward dotted arrow) and one bearish (downward arrow).
- This illustrates possible scenarios based on whether price breaks above the trend line or rejects it.
6. *Chart Labeling:*
- Text boxes like “Consolidation area,” “Support Area Break-out,” and trend labels provide clarity.
---
Would you like a trade idea or strategy suggestion based on this analysis?
GBPUSD 
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Just for One More Smile © free
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.